South Korea and the U.S. have agreed on the size of Seoul’s planned investment in a gas project in Texas at around $22.3 B, citing unidentified officials and politicians.
South Korea and the U.S. have agreed on the size of Seoul’s planned investment in a gas project in Texas at around $22.3 billion, Korean media Edaily reported, citing unidentified officials and politicians.
The project, which would be Seoul’s first U.S. investment under last year’s trade agreement, aims to build a 6.3-gigawatt gas plant in Encinal, Texas, to meet rising power demand for AI data centers, according to media reports.
The investment would be part of the trade deal signed by the two allies last year, under which Seoul pledged $350 billion worth of U.S. investments in exchange for favorable U.S. tariffs on imports of South Korean goods.
The reports did not say whether Seoul would shoulder the whole cost of the Texas project.
Seoul is also considering other potential projects in the United States, including building a large-scale nuclear power plant or a liquefied natural gas project in Alaska, media reports said.
South Korea’s Industry Ministry said it could not confirm the process of the U.S. investment plan.
